"U.S. companies have good ethics and very good standing," Huawei founder and CEO Ren Zhengfei said during a discussion with two American technological gurus, George Gilder and Nicholas Negroponte, at the company's Shenzhen headquarters on Monday.

When asked whether Huawei will continue to do business with U.S. companies which stopped supplying raw materials and parts to the Chinese tech giant, Ren showed his ever-changing willingness to pursue further cooperation.

"The past three decades development of Huawei have been conducive to the support we received from U.S. companies. We have encountered setbacks, not from the companies, but differences politically," he added.

Since the U.S. government has started to crack down on Huawei, the company has been banned from participating in international organizations and in university collaborations. They cannot even connect with the U.S. network, according to Ren.

He said company executives never thought the U.S. would take such actions against them and hadn't realized the severity of this issue.

But meanwhile he stressed that the firm had been prepared and will shift reliance to its own technologies.